Midnight Sun Mining (CVE:MMA) Trading 31% Higher - Here's What Happened

Key Points

• Midnight Sun Mining Corp. shares surged 31% during trading on Saturday, reaching a high of C$2.00 before closing at C$1.90.
• Trading volume increased significantly to 1,229,908 shares, which is a 335% rise compared to the average session volume of 282,781 shares.
• The company primarily explores for copper, cobalt, nickel, and gold deposits in Africa and holds a 60% interest in the Solwezi licenses located in Zambia.

Midnight Sun Mining Corp. (CVE:MMA - ) shares traded up 31% on Saturday . The stock traded as high as C$2.00 and last traded at C$1.90. 1,229,908 shares changed hands during trading, an increase of 335% from the average session volume of 282,781 shares. The stock had previously closed at C$1.45.

Midnight Sun Mining Stock Performance

The company has a 50-day moving average price of C$0.91 and a two-hundred day moving average price of C$0.70. The stock has a market capitalization of C$342.85 million, a P/E ratio of -63.33 and a beta of -0.08. The company has a quick ratio of 3.91, a current ratio of 45.60 and a debt-to-equity ratio of 1.69.

About Midnight Sun Mining

Midnight Sun Mining Corp. engages in the acquisition and exploration of mineral properties in Africa. The company primarily explores for copper, cobalt, nickel, and gold deposits. It owns a 60% interest in the Solwezi licenses located in Zambia. The company was formerly known as Midnight Sun Capital Corporation and changed its name to Midnight Sun Mining Corp.

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